Changes to Premium Bonds

Savers were delivered a fresh blow yesterday after the chances of winning a Premium Bond prize were slashed.From June, there will be around 300,000 fewer prizes up for grabs each month.The move will see almost £5million cut from the prize fund as the odds of winning for each £1 invested drop from 26,000 to one to 30,000 to one.

For me I still think they are reasonable value and a better option that playing the National Lottery (at least you can get your stake money back )

Forum Moderator and CustomerCourage is resistance to fear, mastery of fear, not absence of fear - Mark TwainHe who feared he would not succeed sat still

Re: Changes to Premium Bonds

Same old story. Savers basically bailed the country out of the mess it was it and no good deed goes unpunished.Every man and his dog gets a good return from savings except for the savers themselves.No need to plunder pension funds anymore.Who'll be next when the net gets cast further?

Re: Changes to Premium Bonds

I use savings in Premium Bonds to 'underwrite' the excess on motor and house insurance (putting the excess at the maximum) also to underwrite our own cover on boiler, water-sewerage, and travel insurance. I've had to claim once (boiler repairs) but based on several years of possible insurance premiums am showing a return of around 7%.PBs are as good as cash, readily accessible and 100% protected